Data Preview: Is May the Turning Point? Let’s Find Out

The May US data have been modestly uplifting to this point, specifically the surprise payrolls gain and lower unemployment rate, improved inflation data, and a smaller contraction in manufacturing conditions. None of it came close to making up for the terrible March and April readings, but it’s a start. The coming week’s data will shed […]
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The True Cost of Trading

At Profit & Loss Dial-in Day Frankfurt, Colin Lambert, managing editor, spoke to David Mercer, CEO of LMAX Group about the true cost of trading in FX markets. In a lively conversation Mercer outlines guidelines for understanding the truecost of trading and along the way talks about the opportunity cost of hold times, the value […]
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US Initial Claims Slow Further; May PPI Above Expectations

The US jobless claims data released earlier Thursday pointed to continued improvement for both new filings and existing filings, but the levels of both remain extremely high as even state reopenings have not been able to get displaced workers back on the job. Those levels stand as a marker as to how deep the COVID-related […]
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And Another Thing…

It’s a bold statement from a man who has proven again and again he is not afraid of rocking the boat, “We consider a full move to 24/7 spot FX trading a real possibility within the next five years”. So, is David Mercer, CEO of LMAX Group, making a bold statement or actually predicting what […]
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ECB Hints at Geographic Targeting of PEPP Purchases

The European Central Bank (ECB) will continue to bend its rules on the geographic allocation of emergency sovereign bond purchases, deviating from its capital key to support nations in financial distress. “We raise the share of purchases above the capital key in countries facing severe risks of fragmentation,” said ECB governing council member Isabel Schnabel, […]
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US May CPI Slips Before June Demand Pickup

US consumer prices were below the flat reading expected, as energy prices declined further, but demand is likely to rebound in June and lift prices along with it. Data released by the Labor Department Wednesday morning showed that overall CPI fell by 0.1%, as did core CPI which excludes both food and energy prices. Both […]
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Digital Vega Rolls Out Hydra Exotics

FX Options multi-dealer platform provider Digital Vega has rolled out a new exotics platform as it seeks to eat into the dominant share of this market held by the bank single dealer platform. To date, developments in the FX options multi-dealer world have been limited to vanilla products, such as those supported by Digital Vega’s […]
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And Finally…

In a strange quirk of timing, just a day after I published my thoughts on the need for traders to escalate issues, we got news of a whistleblower being awarded $50 million, purportedly for revealing details of how a bank harmed customers. In Thursday’s column I argued that the trader who last week told a […]
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Protests Complicate FOMC Statement Amid Recovery

After the May employment report showed slight improvement after the overwhelmingly negative April report, the attention in the week ahead turns to the monthly US inflation reports and Wednesday’s FOMC meeting, as well as the first look at June consumer confidence. The FOMC meets Tuesday and Wednesday at a time that is both the same […]
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US May Payrolls Rise, Unemployment Rate 13.3%

The May employment report showed further impact of the COVID-19 shutdown, but there was no question that the surprisingly positive data point to a turning point after weak March and April readings. There will not be a significant improvement in the employment situation until more businesses reopen, but there should be additional positive signs in […]
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